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1st trade on 1000 GBP Demo account, new start, 1st T20. 1/20
Pair: DAX
Entry: Momentum Seed
Exit: TP at 2R, BE at 1:1, with ATM
Result: +1,32%
Satisfaction and Discipline Score:
DS: 0, because Momentum Seed is not part of my trading plan. But it is part of it, from now.
Comment: ATM took my SL a bit far from the correct point. And I moved it manually to the correct point, 2 pips below the candle. I corrected the TP level as well. This is the reason of the result. I was calm during the trade.
immy wrote:Peter, I asked you to work on your trading plan, you worked on it and the first thing you did, is break it!!!! what's going on with you mate?
Immy, I've no money to trade. I'm searching a job there days. My mind isn't clear. My company is in liquidation. My only chance is trading, but how with these problems? Today was a good day too on demo... Later I will update my journal too... Moty.... no comment.
I'm very sorry to hear about your situation. (as you know that I knew it before) I hope you find a better job, something that you really enjoy doing. Trading is a business like no other. But you need capital to invest in it. Not much just a little bit. But trading success is usually the hardest when your finances are in jeopardy.
If you don't' have peace of mind due to worry about your finances and that department is not sorted you will find it hard to make it as a trader. Reason being, you cannot focus on money when you're trading. Money in trading comes at the end of a long and hard process of being disciplined. I know these things could be very personal and not comfortable for people to discuss out in the open. But hey, we are all humans and we have all seen those days. Trust me I've been there and still the horrors of those days haunt me in my nightmares from time to time.
hen I quit my job for trading, i was not all setup either but i took a risk, that I won't do again or recommend to anyone now. I'd recommend something that the likes of Grant are doing. Find at least a part time job that covers the daily expenses, taking care of one man is not that hard ... its a different story if you have kids and other dependants.
I took the risky step when I had a little daughter born and it was the toughest time but for some reason it made my resolve even stronger. I suppose you too have a strong resolve and the only way to be successful in trading is being 100% focused on your goal and completely committed. that also means realising the power of goals and the power of putting those goals together, stream lining them, in to a written document that is called a trading plan.
You gotta have a plan, and a plan is nothing but a set of goals and a set of methods and parameters that would help you to achieve those goals. If you set a rule that you will DO this and Do NOT do that and you end up doing the opposite you are not following the plan. So what is it that will help you follow your plan? I have said it all, but what is it personally for you? you will have to find out. e.g. your trading plan should include what will you do when you find yourself breaking your plan? e.g. I do not allow my self to trade if I make a mistake. Trading is what I Love to do, so its a great Negative reinforcement for me. If I still do not follow it then there is a higher level of negative reinforcement. This way you can train yourself like a dog trainer! No biscuit for Shakaal today!
Most important bit is find ways to remain happy! Use your mind to think positive thoughts and remain in the higher vibrations all the time.
Let me suggest one remedy. Remaining calm and relaxed is hte answer. The mind is CREATIVE when its calm and relaxed and stupid and tunnel visioned during fear and stress.
Meditations (you know that already and you've done it, but perhaps you stopped now... which you should not) is the answer
Meanwhile, let me apologise if I have unwittingly offended you or if Moty's comment did that. I am sorry. But keep your spirits high , i AM SURE you will get there.... xxxxxx
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
exponent83 wrote:Immy, I've no money to trade. I'm searching a job there days. My mind isn't clear. My company is in liquidation. My only chance is trading, but how with these problems? Today was a good day too on demo... Later I will update my journal too... Moty.... no comment.
Peter
I was sorry to read your last post and wanted to send you my best wishes and all the positive vibes in finding a new job and financial stability. I have been there too and know what you are going through. I am fine now through positive thinking and rebuilding my life. All the best my friend.
exponent83 wrote:Immy, I've no money to trade. I'm searching a job there days. My mind isn't clear. My company is in liquidation. My only chance is trading, but how with these problems? Today was a good day too on demo... Later I will update my journal too... Moty.... no comment.
Dear Peter
I'm sorry if I offended, I am sincerely apologize.
I did not know about your situation, I just liked the response from Immy.
Again sorry.
Thanks Guys for your comments. Today's trades are the followings, T20: 2-4/20
Pair DAX
Entry: S1, AA Style, Monarch Cherry
Exit: TP at 2R, BE at 1:1, with ATM.
Result: -2%, BE, +4%
DS: 1, 0, 1
Comment: first trade was an S1, with 10 pips SL. Didn't work out. A BE trade, no AA signal, but I saw the candle formation. Overcomplicated, I know, so not disciplined trade. And a nice Monarch Cherry after these trades, with nice result.
ATM didn't take my PO's. So I took them manually. I have to find out the problems. But it's still good. I reached my weekly target, so I'm happy. I've very good feelings related the trading plan. I've problems, but plan following feelings are great, I can be better and better trader, this is the only way. Thanks again for sharing your thoughts, Guys. Cheers
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Trades from 16 December. The system changed, and this is a great journey. Every day I feel the power of this.
Pair UJ
Entry: Cherry
Exit: TP at 2R, BE at 1:1, with ATM.
Result: +2%
DS: 1
Comment: I tried Hunt on currency M15 with the same parameters as Dax M1. It was fun, I slept well. I opened my platform in the morning and I saw the wonderful result.
Pair DAX
Entry: Seed
Exit: TP at 2R, BE at 1:1, with ATM.
Result: +2%, Deleted PO, BE
DS: 3/3
Comment: Nice 2%, a deleted PO, and well played BE. Nicely done.
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